Learn about each generation of customers and plan your business more easily.
Posted: Sat Dec 07, 2024 6:38 am
In business, nothing comes easy, especially customers. To study and analyze the target group that we want to be in the cycle of the business in order to make it grow and create profit in the future, we must understand the customers as much as possible, which will make the business results positive. Understanding the target group and customer groups is therefore the most important thing in marketing.
“Consumers” or “customers” are very important variables that will make your business able to continue or not. In order for our business to reach the target group and customer groups, we must know what kind of customer groups our business best meets.
The easiest way to segment consumers or customer groups that we can analyze their needs is GENERATION, which is divided into periods based on the year of birth. Each Generation has different experiences in learning and perceiving things during that time, making each Generation’s consumption choices different. However, in the same Generation, they will have similar consumption choices, allowing us to use Generation to analyze the needs of Lead Generation for our business.
Pedestrians crossing a crosswalk in Shibuya, Japan
Table of Contents
Generational division of consumer groups that affects business
summarize
Generational division of consumer groups that affects business
As mentioned, each generation learns and grows up in a society that is constantly changing in different ways. In each era, the beliefs or trends of society are constantly developed, making each period have a great impact on the people who grew up in that era.
Therefore, people in each generation will have lawyer database different beliefs, attitudes, and lifestyles. This has a significant impact on the learning of businesses that must understand every generation of people in order to plan their business and present products and services that meet the needs of people in each group. This makes business planning easier. In particular, marketing requires learning about generations in order for advertising to reach the target group more accurately.
The current generations are divided into Baby Boomers aged 55-73 years, Gen X aged 44-54 years, Gen Y/Millennial aged 23-38 years, Gen Z aged 4-24 years, and Gen Alpha newborn-9 years. But today we will talk about only the 4 generations that will have the most impact on businesses.
Baby Boomer consumers aged 55 – 73 years
This is the generation with the oldest age range, born between 1946 and 1964. This is the group of people who will see the most changes in the world and is the age group with the highest number of births because the values of people after the end of World War II were to have many heirs in order to increase the population to replace the lost population. In those days, there were difficulties, consumer goods were available to buy and use very little and they were also expensive.
This made the characteristics of people in the Baby Boomer group serious, frugal, and gave importance to aesthetics because in that era there was very little entertainment, making it easier for people in the Baby Boomer group to consume entertainment and aesthetics around them, which greatly affected their choice of products and services. This made everything that people in this generation valued the most was quality and the value they would receive from purchasing products and services.
Despite growing up in a difficult era, many of this generation have achieved success in life or have enough money to buy quality products and services for themselves easily. Many may even overlook the price. This group is very interested in technology. However, if you want to meet the Baby Boomers, using influencers may not work at this age.
Baby Boomers tend to trust or receive information from their peers more, and can do word of mouth marketing.
For digital marketing, it can also reach people in this group. As mentioned, Baby Boomers are interested in technology and play a lot of social media. But they have to choose the platform to do marketing. For example, Facebook and Line are the platforms that Baby Boomers use the most, with an average of 82.5%.
Gen X consumers aged 39 – 54 years
According to surveys, people in Gen X currently have the largest population in the world and are a group of people who are self-made and have high success in their careers. As a result, people in the Gen X group spend a lot of money compared to other generations. This may be a result of the lifestyle of people in Gen X who place importance on Work Life Balance because everything in life is going in its proper place.
The characteristics of people in GEN X are that they have high self-confidence, like to study and gain knowledge, and like to create experiences for themselves in order to not fall behind the trend. Although many people are the center of the family, the most valuable thing for GEN X is time for themselves.
This makes marketing to people of this age group, trustworthiness, and taste of products and services very important. Since this age group is good at using technology and has a lot of knowledge, selling products and services to people of GEN X must create a good image, along with quality and price that go in the same direction. And famous world-class brands are one of the important variables in deciding for people of this age group.
“Consumers” or “customers” are very important variables that will make your business able to continue or not. In order for our business to reach the target group and customer groups, we must know what kind of customer groups our business best meets.
The easiest way to segment consumers or customer groups that we can analyze their needs is GENERATION, which is divided into periods based on the year of birth. Each Generation has different experiences in learning and perceiving things during that time, making each Generation’s consumption choices different. However, in the same Generation, they will have similar consumption choices, allowing us to use Generation to analyze the needs of Lead Generation for our business.
Pedestrians crossing a crosswalk in Shibuya, Japan
Table of Contents
Generational division of consumer groups that affects business
summarize
Generational division of consumer groups that affects business
As mentioned, each generation learns and grows up in a society that is constantly changing in different ways. In each era, the beliefs or trends of society are constantly developed, making each period have a great impact on the people who grew up in that era.
Therefore, people in each generation will have lawyer database different beliefs, attitudes, and lifestyles. This has a significant impact on the learning of businesses that must understand every generation of people in order to plan their business and present products and services that meet the needs of people in each group. This makes business planning easier. In particular, marketing requires learning about generations in order for advertising to reach the target group more accurately.
The current generations are divided into Baby Boomers aged 55-73 years, Gen X aged 44-54 years, Gen Y/Millennial aged 23-38 years, Gen Z aged 4-24 years, and Gen Alpha newborn-9 years. But today we will talk about only the 4 generations that will have the most impact on businesses.
Baby Boomer consumers aged 55 – 73 years
This is the generation with the oldest age range, born between 1946 and 1964. This is the group of people who will see the most changes in the world and is the age group with the highest number of births because the values of people after the end of World War II were to have many heirs in order to increase the population to replace the lost population. In those days, there were difficulties, consumer goods were available to buy and use very little and they were also expensive.
This made the characteristics of people in the Baby Boomer group serious, frugal, and gave importance to aesthetics because in that era there was very little entertainment, making it easier for people in the Baby Boomer group to consume entertainment and aesthetics around them, which greatly affected their choice of products and services. This made everything that people in this generation valued the most was quality and the value they would receive from purchasing products and services.
Despite growing up in a difficult era, many of this generation have achieved success in life or have enough money to buy quality products and services for themselves easily. Many may even overlook the price. This group is very interested in technology. However, if you want to meet the Baby Boomers, using influencers may not work at this age.
Baby Boomers tend to trust or receive information from their peers more, and can do word of mouth marketing.
For digital marketing, it can also reach people in this group. As mentioned, Baby Boomers are interested in technology and play a lot of social media. But they have to choose the platform to do marketing. For example, Facebook and Line are the platforms that Baby Boomers use the most, with an average of 82.5%.
Gen X consumers aged 39 – 54 years
According to surveys, people in Gen X currently have the largest population in the world and are a group of people who are self-made and have high success in their careers. As a result, people in the Gen X group spend a lot of money compared to other generations. This may be a result of the lifestyle of people in Gen X who place importance on Work Life Balance because everything in life is going in its proper place.
The characteristics of people in GEN X are that they have high self-confidence, like to study and gain knowledge, and like to create experiences for themselves in order to not fall behind the trend. Although many people are the center of the family, the most valuable thing for GEN X is time for themselves.
This makes marketing to people of this age group, trustworthiness, and taste of products and services very important. Since this age group is good at using technology and has a lot of knowledge, selling products and services to people of GEN X must create a good image, along with quality and price that go in the same direction. And famous world-class brands are one of the important variables in deciding for people of this age group.